facebookAny advice how you would manage a take home pay of 3.3k assuming emergency funds already settled. - Seedly

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Anonymous

04 Dec 2023

Adulting

Any advice how you would manage a take home pay of 3.3k assuming emergency funds already settled.

Discussion (9)

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You could consider the 6 Jars Financial Management System. Just google it.

Chin Guo Qiang (ITIL4 / CSPO / CSM)

Edited 06 Dec 2023

Assistant Vice President, IT Operations at Bank of China Limited

If want to do high risk investments etc, i will first double up my emergency funds by at least 50% or 75% more first.

Next, monthly expenses are to be covered proper, for eg telco bills, utilities and most importantly, lunch expenses (for cai png etc).

Next, basic medical insurance for self (and own family if applicable) should be done.

Then see the leftovers for further investments (need to put a couple of % like eg 15% or 20% or take-home pay, for a significant amount of investments and returns).

Man of the Hour

06 Dec 2023

Man at Man of the Hour

At such low salary just try to keep expenses low and save/invest more.

Kent Toh

05 Dec 2023

Consultant at Sprinklr

Find out what are the typical expenses (try not to exceed 50%), and set aside some forced savings (10-20%). Get Insurance/Invest the rest.

If expenses are higher, then it means less for your future. You may want to find ways to increase the take home pay to meet the expenses. Or simply cut down.

Cryotosensei

05 Dec 2023

Blogger at diaperfinancingfund.blogspot.com

I'm not the kind to manage a budget, so what I have are saving goals: $15,300 in my SRS and $5 each ...

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